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Altura Energy Corp. reports developments tied to its helium assets in Arizona's Holbrook Basin, including pipeline installation, well tie-ins, workovers, and acreage expansion around the Pinta South Helium Field. Company updates also cover farm-in agreements, field infrastructure, helium production plans, and project-level activity at the Saddle Horse Draw target.
Altura news also includes public-company capital and governance items such as common-share issuances for services, advisory and investor-relations arrangements, and shareholder ownership notifications.
Altura Energy (OTCQB: ALTUF) finalized a farm-in agreement for approximately 2,560 acres in the Holbrook Basin, Arizona, contiguous to two existing helium wells. The adjacent wells (Altura has a 20% non-working interest) have produced over USD $11M in helium sales since 2021.
The acreage potentially supports up to 64 additional wells in a shallow (~300m) formation with multi-zone upside, positioning Altura to scale production amid tightening global helium supply.
Altura Energy (TSXV: ALTUF) has started a pipeline replacement and infrastructure upgrade at the Saddle Horse Draw target in the Pinta South Helium Field, Holbrook Basin, Arizona. After completion, two recompleted wells that previously flowed 123 mcfd and 118 mcfd are expected to resume production.
The program includes a new pipeline to the processing plant, SCADA installation for real-time monitoring, and workovers on four remaining wells to support scalable development and improved operational reliability.
The boards of Elemental Royalties Corp. and Altus Strategies plc have announced a recommended all-share merger of equals. Each Altus shareholder will receive 0.5940 New Elemental Shares per Altus Share, creating a new entity where Elemental shareholders will own approximately 52.9%. The merger aims to enhance portfolio diversification with 69 assets across 13 jurisdictions and an estimated adjusted revenue of US$19.6 million for 2022, growing to US$24.6 million in 2023. The merger is subject to court approval and shareholder support, with significant backing from key investors.
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF) disclosed that on June 3, 2021, Alister Hume, the Business Development Manager, acquired 5,163 Ordinary Shares at an average price of 63.83p per share. This transaction increased Mr. Hume's total shareholding to 12,163 Ordinary Shares, equivalent to 0.02% of the company's issued shares. The notification complies with the EU Market Abuse Regulation requirements.
Altus Strategies provides an exploration update on its Tabakorole gold project in southern Mali, highlighting a 150m increase in strike length from recent diamond drilling (950m) and significant gold intercepts. The joint venture with Marvel Gold has expanded the land by 87%, totaling 187km². The project contains a Mineral Resource Estimate of 620,000 ounces at 1.2 g/t Au (Inferred) and 290,000 ounces (Indicated). An ongoing 5,100m aircore drilling program is aimed at further resource expansion, with results expected in Q3 2021.
On May 28, 2021, Altus Strategies Plc reported significant director share dealings. CEO Steven Poulton acquired 112,939 Ordinary Shares at an average price of 61.93p, increasing his stake to 5,870,000 shares, or 7.30% of the total issued share capital. Additionally, Anna Grainger, spouse of Executive Director Matthew Grainger, purchased 10,000 Ordinary Shares at an average price of 63.52p, raising his family's total holding to 2,108,899 shares (2.61% of total). These transactions underscore executive confidence in the company's prospects.
Altus Strategies Plc (OTCQX: ALTUF) reported its unaudited financial results for the quarter ending 31 March 2021, highlighting operational and corporate advancements. Key operational updates include the acquisition of four gold exploration licenses in Egypt and three copper-silver projects in Morocco. Financially, Altus raised £7.7m through a private placement, concluding the period with a cash balance of £7.4m. The company plans to utilize funds to expedite exploration in Egypt and Mali. Additionally, drilling programs are ongoing, showing promising results at various projects in Mali.
Altus Strategies Plc (ALTUF) has initiated a 17,500m drilling program at its Diba gold project in Mali, following an extensive ground magnetic survey. The program includes a 10,000m Reverse Circulation (RC) segment that aims to explore high-grade zones with existing intersections of up to 43.83 g/t Au. A 7,500m Air Core (AC) drilling effort will focus on nearby discoveries and artisanal workings. An updated Mineral Resource Estimate and Preliminary Economic Assessment are anticipated upon completion, highlighting the project's potential significance in West Africa.
Altus Strategies Plc (OTCQX: ALTUF) has announced the award of three new exploration projects spanning 221 km2 in Morocco, focusing on copper, tin, and zinc. This expansion is part of a competitive tender, increasing Altus's Moroccan portfolio to ten projects totaling 675 km2. The new projects include the Amsa Tin, Tiddas Copper-Lead, and Jafra Copper-Zinc projects. Exploration programs are set to begin shortly, with additional project applications underway across key mineralized belts in Morocco, enhancing the company's growth prospects in a highly prospective region.
Altus Strategies announced its Annual General Meeting (AGM) for June 14, 2021, at 3:00 p.m. BST, held at its registered office in Didcot, UK. Shareholders received the Notice of Meeting, Annual Report & Accounts via mail on May 14 and May 17, 2021, respectively. Key resolutions include the approval of the financial statements for the year ended December 31, 2020, the reappointment of auditors, elections of board directors, and authorizations for share options and securities allotment. Shareholders are advised not to attend in person due to COVID-19 precautions.